Thursday, July 16, 2009

PETITION: Stop the Home Valuation Code of Conduct

"Petition to stop the Home Valuation Code of Conduct.

In the past few weeks, we’ve talked about the new appraisal rules and how they’re impacting our business. Now, here’s a video explaining the situation more in-depth along with a petition to ask the House to enact an 18 month moratorium on the HVCC (in the form of House Bill 3044)"

Monday, July 13, 2009

Do You Have Above Average Credit?

"Do you Have Above-Average Credit?

Forty-two percent of U.S. consumers have credit scores between 550 and 699. As a result, these consumers typically don’t qualify for preferred interest rates and, depending on their overall credit profile, they may not even qualify for certain loans and credit cards. The primary challenge is that most consumers don’t understand what impacts their credit profile and, more importantly, don’t know what actions they can take to help improve it. This short quiz will help test how much you know about your credit profile and how it works.

1. To have the best credit profile impact, what is the maximum amount of your monthly credit line you should use?a) 70%b) 30%c) 50%

2. What is the top contributing factor to what makes a good credit score?a) Length of credit historyb) Amounts you owec) Payment history

3. If you pay 2% each month on your credit card (typical minimum payment), when will you pay off a $3,000 balance at 10% interest?a) 18 yearsb) 6 yearsc) 3 years

4. After paying off a high-interest credit card, you should:a) Continue using it occasionallyb) Close the accountc) Use the full amount of available credit every month

5. Applying for credit cards in order to just receive a free sign-up gift (t-shirts, mugs, etc.) has no impact on my credit profile?True or False

6. Rewards points on credit cards are a good deal when:a) I get cash backb) I get free airline ticketsc) I carry no balance each month

7. To have a credit score, I must have at least one creditor reporting activity on my credit report for:a) 12 monthsb) 8 monthsc) 6 months

8. Credit bureaus that manage your personal credit report data and credit scores are a:a) Government entityb) Non-profit agencyc) Regular business corporation

9. Banks and credit card companies think you are credit-worthy by how many credit offers you receive by mail?True or False

10. Credit scores are used by lenders mainly to: a) Tell how I compare to other consumersb) Tell if I make my payments on timec) Predict the likeliness that I will repay my loan on time

Answers: 1 - c, 2 - c, 3 - a, 4 - a, 5 - False, 6 - c, 7 - c, 8 - c, 9 - False, 10 - c

If you find you answered more than half of these questions wrong, you’re not alone. In a survey, we found that the majority of consumers do not know the answers to these and similar types of questions. On average, U.S. consumers have a total of 13 credit obligations on their credit report. These include installment loans (auto loans, mortgage loans, student loans, etc.) and credit cards (such as department store charge cards, gas cards, or bank cards). As a result of the numerous outstanding credit obligations, combined with the lack of proper knowledge and guidance about what impacts their credit profile, the average U.S. consumer ends up spending thousands of dollars on unnecessary interest expenses.

The good news is that it’s not too late. With a good understanding and proper guidance of how credit works, consumers can learn how to effectively manage their personal credit profile. Improvements can be obtained fairly rapidly with credit coaching services and the proper changes (no more trial-and-error stuff). Our survey group of customers who participated in a credit optimization and coaching service saw their credit scores increase by an average of 30 points in just four months as a result of more effectively managing their credit. More than ever, every responsible consumer should proactively evaluate, optimize and protect their credit before they have a required credit need or an issue arises.

Market Issues by Jeff Mandel and Marlin Brandt

Milicki and Associates
110 Evans Mill Drive, Suite 103, Dallas, Georgia 30157
Office: 770-874-2022 Toll Free: 1-866-966-3022 Fax: 770-8742027

Wednesday, July 1, 2009

GEORGIA - No Homestead Tax Exemption for 2009

The 'Governor's Tax Credit' for homestead property was NOT funded by the State legislature for 2009 which will result in an increase on your 2009 tax bill between $77.04 and $228.24 (depending on other exemptions you have or whether your Property is located within the city limits).
If your taxes are paid from an escrow account through your mortgage lender, you may want to notify them so the escrow payment amount can be adjusted accordingly.
Click on the following link for video of Gail Downing, Cobb County Tax Commissioner
Homestead exemption

For additional information, go to then click on “Property Tax”

Milicki and Associates
110 Evans Mill Drive, Suite 103, Dallas, Georgia 30157
Office: 770-874-2022 Toll Free: 1-866-966-3022 Fax: 770-874-2027

Featured Properties

284 Jennifer Lane, Temple, GA
If you are looking for a lovely, well-cared-for home with a lot of property, this is the home for you! This home is a 3 bed, 2 bath modular home with over 2 acres, garage, and lean-to. Just 10 minutes from I-20, this home is perfect no matter where you work. With new vinyl siding, windows, and roof, this home is will go quickly - especially with a newly updated master bathroom. For those who are interested, the seller will consider lease purchases. The listing price on this home is $115,900.

419 Clarion Drive, Carrollton, GA
Are you looking for a spacious, immaculate home in Carrollton in a well-established neighborhood? Then, this is the palce for you! This 5-bed, 3-bath home is located in the Mountain Creek subdivision and near the 15th green and 16th tee. Listed at $168,000, this well-cared for home will go quickly!

3938 Longview Drive, Chamblee, GA
Located in the Huntley Hills subdivision, this 4-bed, 2.5-bath home is a steal at $259,000. Sitting on approximately 1/2 an acre, this home is spacious with a large, fenced backyard, two car garage with large workshop, and a formal dining room. This property is located in a swim/tennis community. With this home being so close to great schools and I-285, it will go fast!

Milicki and Associates
Toll free : 1-866-966-3022
Fax: 770-874-2027